Topic hub
SM&CR compliance training
The Senior Managers and Certification Regime (SM&CR) requires every FCA-regulated firm to ensure its people understand the Conduct Rules, their individual obligations and what fitness and propriety means in practice. CityLearning's SM&CR courses are written for UK regulation and updated for PS26/6 and the 2026 reform programme.
Courses in this area
Senior Managers & Certification Regime (SM&CR)
SM&CR training for UK firms covering individual accountability, the Conduct Rules and reasonable steps, helping staff meet FCA and PRA expectations.
FCA Conduct Rules
A focused course on the Individual Conduct Rules and what acting with integrity, due skill and care looks like in real situations.
Conduct Risk
Help staff recognise conduct risk in their day-to-day decisions and understand how poor conduct leads to customer harm and regulatory action.
FCA & PRA Regulation
An accessible introduction to the UK's regulators: who the FCA and PRA are, what they expect of firms, and how regulation affects everyday work.
Further reading
- What is SM&CR training? Requirements, who needs it, and what the FCA expects
SM&CR training is a regulatory requirement for all UK regulated firms. This guide explains who must train, what the Conduct Rules require, and how to meet FCA expectations across Senior Managers, Certified Persons and all other staff.
- SM&CR reform 2026: what PS26/6 means for your training programme
FCA PS26/6 brings SM&CR Phase 1 reforms in three tranches: April, July and September 2026. This guide explains what each change means for your firm's training programme and what to do before each deadline.
- FCA non-financial misconduct rules 2026: what your training programme must do before September
PS25/23 takes effect 1 September 2026. This guide explains what the COCON changes mean for your training programme, who must train, and what to cover.
Frequently asked questions
- Who needs SM&CR training?
- All staff at FCA-regulated firms who are subject to the Conduct Rules (COCON) need SM&CR training at the Individual Conduct Rules level. Certified persons need training on their specific conduct obligations and must complete annual fitness and propriety assessments. Senior Management Function holders need training on their Statements of Responsibilities and the Senior Manager Conduct Rules.
- What does SM&CR training need to cover?
- SM&CR training must cover the Individual Conduct Rules for all applicable staff, the Senior Manager Conduct Rules and Statements of Responsibilities for SMFs, fitness and propriety requirements for certified persons, and how the regime applies in practice in the firm. Training must be kept current — PS26/6 expanded SM&CR across more individuals in 2026 and firms must update their training accordingly.
- How often must SM&CR training be completed?
- Conduct Rules training must be provided when the rules first apply to an individual and refreshed when regulatory requirements change. PS26/6 means 2026 triggers a required refresh for all firms. Fitness and propriety training for certified persons should be completed annually. Event-driven training is also expected when individuals change role or when the FCA issues updated guidance.
Give your firm's SM&CR training programme a clear evidence trail
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